Life insurance in India made its debut well over 100 years
ago. In our country, which is one of the most populated in the world, the
prominence of insurance is not as widely understood, as it ought to be. What
follows is an attempt to acquaint readers with some of the concepts of life
insurance, with special reference to LIC. It should, however, be clearly
understood that the following content is by no means an exhaustive description
of the terms and conditions of an LIC policy or its benefits or privileges.